Modifications etc. (not altering text)
C1Pt. 5 Ch. 2 restricted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 33 para. 1(5) (with Sch. 36)
(1)A deduction from earnings from an employment is allowed for travel expenses if conditions A to E are met.
(2)Condition A is that the employee is obliged to incur and pay the expenses.
(3)Condition B is that the travel—
(a)takes place within the United Kingdom, and
(b)is for the purpose of performing duties of the employment at the destination.
(4)Condition C is that the employee has performed duties of another employment at the place of departure.
(5)Condition D is that—
(a)at least one of the employments is as a director of a company (“company X”), and
(b)the other employment is also with a company (“company Y”) but not necessarily as a director of it.
(6)Condition E is that the employee was appointed as a director of company X because company Y, or a company in the same group as company Y, has a shareholding or other financial interest in company X.
(7)This section needs to be read with section 359 (disallowance of travel expenses: mileage allowances and reliefs).
(8)In this section—
“director” has the same meaning as in the benefits code (see section 67), and
“group” means a company and its 51% subsidiaries.]
Textual Amendments
F1S. 340A inserted (with effect in accordance with art. 4 of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2014 (S.I. 2014/211), arts. 1, 2(2)